Legal Definition and Related Resources of Perpetuity
Meaning of Perpetuity
That which lasts forever. In a technical sense, the term denotes limitations of contingent future interest which may or will not vest beyond the period prescribed by the rule against perpetuities. See perpetuities, rule against .
Perpetuity Alternative Definition
Any limitation tending to take the subject of it out of commerce foi a longer period than a life or lives in being, and twenty-one years beyond, and, in case of a posthumous child, a few months more, allowing for the term of gestation. Rand. Perp. 48. Such a limitation of property as renders it unalienable beyond the period allowed by law. Gilb. Uses (Sugd. Ed.) 260, note. An interest subject to a condition precedent, which condition is not to be fulfilled within twenty-one years after some life in being at the creation of the interest. Gray, Perp. § 216. Mr. Justice Powell, in 12 Mod. 278, distinguished perpetuities into two sorts, absolute and qualified; meaning thereby, as it is apprehended, a distinction between a plain, direct, and palpable perpetuity, and the case where an estate is limited on a contingency, which might happen within a reasonable compass of time, but where the estate nevertheless, from the nature of the limitation, might be kept out of commerce longer than was thought agreeable to the policy of the common law. But this distinction would not now lead to a better understanding or explanation of the subject; for whether an estate be so limited that it cannot take effect until a period too much protracted, or whether on a contingency which may happen within a moderate compass of time, it equally falls within the line of perpetuity, and the limitation is therefore void; for it is not sufficient that an estate may vest within the time allowed, but the rule requires that it must. Rand. Perp. 49. See Cruise, Dig. tit. 32, c. 23; 1 Belt, Supp. Ves. 406; 2 Ves. Jr. 357; 3 Saund. 388; Comyn Dig. Chancery (4 G 1); 3 Chanc. Cas. 1; 2 Bouv. Inst, note 1890.
Financial Definition of Perpetuity
A constant stream of identical cash flows without end, such as a British consol.
International Trade Meaning and Definition of Perpetuity
A constant stream of cash flows without end. A British consol is an example.
Synonyms of Perpetuity
noun
- boundlessness
- ceaselessness
- constancy
- constant progression
- continualness
- continuance
- continuation
- continued existence
- continuous time
- continuousness
- endless duration
- endless time
- endlessness
- eternalness
- eternity
- everlasting
- forever
- incessancy
- indefiniteness
- infinite duration
- infiniteness
- infinity
- interminability
- neverendingness
- perenniality
- permanence
- perpetualness
- perpetuation
- perpetuitas
- time without end
- timelessness
- unintermitted continuance
- uninterrupted existence
- uninterruptedness
- Associated Concepts: afterborn children
- in perpetuity
- lives in being
- period of perpetuities
- restraint on alienation
- rule against perpetuities
Related Entries of Perpetuity in the Encyclopedia of Law Project
Browse or run a search for Perpetuity in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.
Perpetuity in Historical Law
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Legal Abbreviations and Acronyms
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| Resource | Description |
|---|---|
| Perpetuity in the Dictionary | Perpetuity in our legal dictionaries | Browse the Legal Thesaurus | Find synonyms and related words of Perpetuity |
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| Related topics | Perpetuity in the World Encyclopedia of Law |
Notice
This definition of Perpetuity is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.
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Concept of Perpetuity in the context of Real Property
A short definition of Perpetuity: Continuing forever. Legally, pertaining to real property, any condition extending the inalienability of property beyond the time of a life or lives in being plus twenty-one years.
Concept of Perpetuity in the context of Real Property
A short definition of Perpetuity: Continuing forever. Legally, pertaining to real property, any condition extending the inalienability of property beyond the time of a life or lives in being plus twenty-one years.
Perpetuity
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